Investors surprisingly pressed the sell button last week following the release of Jabil's (NYSE: JBL) second-quarter fiscal 2023 earnings report (for the three months ended Feb. 28), even though the contract electronics manufacturer's numbers were better than what Wall Street forecast.

Jabil's stock price dropped, as investors were probably expecting a bigger beat from a company that counts Apple (NASDAQ: AAPL) as its biggest customer. They may also have expected it to raise its full-year guidance, as it did last time. However, a closer look at Jabil's performance, outlook, and valuation indicates that investors may have overreacted to the company's latest report.

The good part is that savvy investors now have an opportunity to capitalize on Jabil's drop and buy the stock on the cheap. Let's see why this is an opportunity they may not want to miss out on.

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Source Fool.com